Yelp Investor Presentation Deck

Large and growing market U.S. Local Advertising Spend ($ in billions) Digital Media '19-23E CAGR: 10% $63 $90 $71 $90 2019 2020E About Yelp Digital Media Traditional Media $78 $88 2021 E $86 $88 $94 $86 2022E 2023E Market Opportunity Source: BIA Advisory Services, 2020 U.S. Local Advertising Forecast Strategy Capital Allocation 2019 U.S. Local Digital Advertising Spend by Category ($ in billions) $8 Restaurants Multi-location Digital SMB Digital $27 Other $28 Governance Services Source: BIA Advisory Services, 2020 U.S. Local Advertising Forecast; Yelp internal data Financial Results 9

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